Policies

News Letters 2014

Loans

PERSONAL LOANS
This is an unsecured loan. The maximum amount loaned is
$5,000.

SHARE & CERTIFICATE LOANS
Existing Share and Certificate Accounts may be used to secure loans for up to 100% of
the balance (less $100 in shares). This is an ideal way to borrow for individual or family needs without sacrificing savings. During the period in which this type of loan is outstanding, the Share of Certificate balance securing it may not be withdrawn. And for Certificate-secured loans, the repayment period cannot exceed the Certificate maturity date.

VEHICLE LOANS
New and Used Vehicle Loans for cars and trucks are available for 100% of the purchase price, including tax and license. Repayment terms up to 6 years. Vehicle loans can be
pre-approved, offering members a considerable bargaining advantage during dealer negotiations.

MOTOR HOMES & BOATS
Financing is available for new motor homes and boats for 80% of the purchase price, including tax and license. Repayment terms up to 10 years.

HOME LOANS
Accomplish your financial goals with the equity in your home

FIRST TRUST DEED LOAN (Home Equity)
If your home is paid in full, you may finance up to 80% of the appraised value. The minimum amount loan is $10,000, and the maximum amount is $150,000. There are no application fees or points to pay at SGV Postal Credit Union. Borrowers pay for the appraisal fee after applying for the loan. The maximum repayment term is 20 years.
2nd TRUST DEED LOAN
Financing is available up to 75% of the appraised value, less existing liens. The minimum amount loam is $10,000, and the maximum amount is $100,000. There are no application fees or points to pay at SGV Postal Credit Union. Borrowers pay for the appraisal fee after applying for the loan. The maximum repayment term is 15 years.
Home equity and 2nd trust deed loans may be used for any consumer need, such as home improvements, college tuition, vacations, or big ticket purchases. These loans are closed-end loans (not revolving). There are no prepayment penalties for paying your loan off early, and there are no annual maintenance fees. Ask your financial counselor or tax advisor for details on tax advantages.